Stock Repurchase Program and Cash Dividends

6 Months Ended

Jul. 29, 2017

Stock Repurchase Program and Cash Dividends

Stock Repurchase Program and Cash Dividends

11. Stock Repurchase Program and Cash Dividends

Repurchases of Common Stock

On April 10, 2017, the Company’s Board of Directors approved a program that authorized the purchase of up to $25.0 million in shares of the Company’s common stock.  During the thirteen weeks ended July 29, 2017, the Company repurchased 1,197,000 shares of its common stock at an aggregate cost of $24.9 million.  At July 29, 2017, $0.1 remained available for purchase under this program. 

Dividends

On February 7, 2017, the Company’s Board of Directors declared a dividend of $0.06 per common share, which was paid on March 14, 2017 to stockholders of record as of February 28, 2017.  On May 16, 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on June 13, 2017 to stockholders of record as of May 30, 2016.  On August 15, 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, payable September 12, 2017 to stockholders of record as of August 29, 2017.  Any determination to declare and pay cash dividends for future quarters will be made by the Board of Directors.